12/03/2019 | Press release | Distributed by Public on 12/03/2019 05:15
Qatar Petroleum, for and on behalf of Qatar Petroleum for the Sale of Petroleum Products Company (QPSPP), has concluded a five-year sale agreement with Shell International Eastern Trading Company (SIETCO), a registered business of Shell Eastern Trading (Pte) Ltd., which is based in Singapore.
Under the agreement, QPSPP will supply SIETCO with a total of 900,000 metric tons of full-range naphtha and plant condensate per year, starting in April 2020.
His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs and the President and CEO of Qatar Petroleum, said, "We are pleased to achieve this milestone agreement in our effort to directly sell to users of our products. It is also our pleasure to expand our global relationship with SIETCO, which delivers to customers in key markets in Asia such as China and to Shell's ethylene cracker in Singapore."
Qatar Petroleum and Shell have a long-standing strategic partnership through several shared investments in Qatar's energy industry. This includes Qatar Liquefied Gas Company Limited (Qatargas 4), which produces and exports about 7.8 million tons of LNG per annum, and Pearl GTL, the world's largest gas-to-liquids plant.
The relationship with Shell also includes strategic global partnerships, which include a petrochemical joint venture in Singapore, a joint venture to develop LNG marine fueling (bunkering) infrastructure at strategic shipping locations across the globe, as well as exploration operations in Brazil, Mexico and Argentina.